DMC Group LLC Buys 2,768 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

DMC Group LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,480 shares of the company’s stock after purchasing an additional 2,768 shares during the quarter. Palantir Technologies accounts for about 1.8% of DMC Group LLC’s investment portfolio, making the stock its 9th largest holding. DMC Group LLC’s holdings in Palantir Technologies were worth $2,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its stake in Palantir Technologies by 20.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after purchasing an additional 9,109 shares during the period. ProShare Advisors LLC lifted its position in shares of Palantir Technologies by 14.9% in the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after purchasing an additional 1,702 shares in the last quarter. Quarry LP increased its stake in Palantir Technologies by 193.1% in the 2nd quarter. Quarry LP now owns 4,200 shares of the company’s stock valued at $106,000 after buying an additional 2,767 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 20.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 17,132 shares of the company’s stock valued at $434,000 after buying an additional 2,896 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Palantir Technologies by 21.5% during the second quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock worth $11,382,000 after acquiring an additional 79,618 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird assumed coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. DA Davidson upped their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald began coverage on shares of Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target for the company. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.61.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at approximately $6,576,322.50. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $79.76 on Thursday. The company’s fifty day moving average is $72.94 and its 200-day moving average is $50.10. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The company has a market capitalization of $181.69 billion, a PE ratio of 398.82, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.